Stocks fall, oil seeks a floor, and sterling braces for wild swings
European shares are down as much as 1.2% as the German and Japanese economies contract in quarter three
Milan — Oil struggled to find a floor and stocks tumbled on Wednesday as disappointing German GDP figures heightened worries over slowing global growth, while the pound eased off peaks as UK Prime Minister Theresa May faced the hard task of selling her Brexit deal. European shares fell as much as 1.2% after data showed the German economy contracted for the first time since 2015, tracking similar losses in Asia where data in Japan and China underscored worries about weaker growth. The weak open in Europe sent the MSCI’s world equity index down 0.3% by 9.30am GMT. Sterling steadied just below a 7-month high against the euro and remained close to $1.30 after Britain and the EU agreed on the text of a Brexit divorce deal. May will try to persuade senior ministers on Wednesday to accept the draft agreement that opponents say would imperil her own government and threaten the unity of the UK. “After 873 days of bickering, point scoring, intransigence on both sides, and seemingly irreconcil...
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